Financial robots come, will the accounting become unemployed? Accounting must do a lot of tedious work. Will it first face the impact of artificial intelligence? The emergence of financial robots has aggravated the worries of practitioners.
The Big Four accounting firms have successively launched financial robots. In March 2016, Deloitte announced the introduction of artificial intelligence in accounting, taxation, auditing, etc., and launched products in the first half of this year. PricewaterhouseCoopers began implementing a financial robot program for domestic companies last year. Sinochem International Financial Robotics officially launched in August this year.
What can financial robots do? According to PricewaterhouseCoopers and Deloitte, financial robots are currently able to perform tasks such as verification and collection that are highly repetitive and require low skills. For example, to reconcile accounts with different bank accounts, summarize the weekly report monthly data, and use the internal financial system, external taxation system, input tax management system, last month’s remaining tax amount, and other data sources to add value. Check the tax balance.
Simple entry, accounting and reimbursement may not require manpower in the future. Financial robots operate fast and work 24 hours a day, which can greatly increase work efficiency. “Because of the short time to market, financial robots are still in the stage of customer matching and application integration, and a large number of potential users are still watching,†said Liu Qin, deputy dean of the Shanghai National Accounting Institute.
Current financial robots are not intelligent and are still in the process automation stage. “Data standardization and process automation are the premise of financial intelligence.†Liu Qin said that although the accounting industry is subject to the constraints of the standards and has strong policy and regularity, it is not as good as the data standardization. In addition, due to the differences in business needs of companies, it is not easy to achieve financial process standardization.
“Some companies’ financial processes are often based on experience and what the rules of experience represent are abstract and combing out.†Pang Shujie, senior manager of PwC China Management Consulting, believes that the available data and clear process rules are financial The first stage of robot application.
In terms of data and process standardization, companies have already had some practices. Kingdee, UF, Inspur and other financial management software are widely used in the accounting industry. In recent years, some large companies have centralized accounting services in different regions through financial sharing centers, unified accounting and reporting, and strengthened the standardization of data and processes. "The corporate financial sharing center is an ideal place for applying financial robots," said Liu Qin.
In the face of the trend of intelligent financial robots, what are accounting practitioners prepared to do? Experts in the industry believe that artificial intelligence can replace manpower for repetitive work. Accounting in the new era must not only be able to keep accounts, but must also understand production, business, logistics, and strategy.
Source: Xinhuanet
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